Mirae Asset Global Investments Co. Ltd. Has $5.90 Million Stake in GoDaddy Inc. $GDDY

Key Points

• Mirae Asset Global Investments has reduced its stake in GoDaddy Inc. by 14% during the second quarter, currently holding 32,755 shares valued at approximately $5.90 million.
• Insider trading activity includes CEO Amanpal Singh Bhutani selling 6,000 shares for $900,000, representing a 1.46% decrease in his ownership.
• Several analysts have lowered their price targets for GoDaddy, with Barclays reducing it from $235 to $200, while the stock is currently rated as a "Moderate Buy" with an average target price of $199.

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 14.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,755 shares of the technology company's stock after selling 5,339 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in GoDaddy were worth $5,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in GoDaddy by 257.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock worth $402,946,000 after purchasing an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after buying an additional 1,258,324 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock worth $439,525,000 after buying an additional 710,842 shares during the period. Pacer Advisors Inc. increased its stake in shares of GoDaddy by 893.4% in the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock valued at $116,685,000 after acquiring an additional 582,539 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of GoDaddy by 719.5% during the 1st quarter. National Bank of Canada FI now owns 538,514 shares of the technology company's stock valued at $97,008,000 after acquiring an additional 472,805 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the transaction, the chief executive officer directly owned 406,065 shares of the company's stock, valued at $60,909,750. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Phontip Palitwanon sold 777 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares in the company, valued at approximately $2,904,070.41. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,203 shares of company stock worth $4,200,828 in the last three months. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays reduced their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Weiss Ratings restated a "hold (c+)" rating on shares of GoDaddy in a research note on Saturday, September 27th. Raymond James Financial decreased their target price on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. Citigroup dropped their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $199.00.

GoDaddy Price Performance

GDDY stock opened at $137.26 on Tuesday. The company has a market capitalization of $19.00 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.98. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a 52-week low of $131.29 and a 52-week high of $216.00. The business has a 50-day simple moving average of $145.81 and a two-hundred day simple moving average of $166.43.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.

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